Final placement by Hynix creditors nets $491 million

The creditors say their remaining 16.5% stake in the Korean memory-chip maker will be reserved for a strategic buyer.

Hynix Semiconductors' nine remaining creditors last night sold a combined 4.1% stake in the company through a placement, reaping W584.5 billion $491 million. This was the second sale of shares in the Korean memory-chip maker by the group this year and the second time that they managed to offload their shares at a zero percent discount.

The offering came after the company reported pretty good second quarter earnings, but the key reason why the demand was again strong enough...